GlobalWarmingandClimateChange is occurring all the time, however in recent years a slight increase of the earth’s temperature has been recorded resulting in global warming. This is causing the ice caps to melt and adverse weather conditions to occur. Global warming is a result of air pollution from burring fossil fuels and other greenhousegases (GHG) emitted, which trap infrared radiation in the earth’s atmosphere.

Poverty and Climate Change

BP 40: emissions from a biomass fire

Over half the world still rely on solid fuels as their main source of energy with many developing countries using traditional open fires in the form of a traditional 3 stone fires to cook. This has problems of deforestation and increased GHGStoveEmissions all of which contribute to the effects of climate change.

Climate change is having a much greater impact on the poor as people living in already flood prone areas are at greater risk of flooding and those in arid or semi arid areas are suffering the effects of drought and famine. In the North where fossil fuels are consumed at an alarming rate post industrialisation and in the south where countries rely on very traditional fuel methods alternative, renewable sources of energy need to be found. This needs to encompass the needs from sustainable small scale and household systems for remote areas of developing countries to large-scale and centralised systems to meet the needs of the developed worlds energy demands.

Combating Climate Change through Carbon Finance

An example of a recent initiative by the World Bank, in an to attempt to combat climate change, is the introduction of carbon finance. Projects receive carbon credits if the project proves to reduce carbon emissions in a similar way to a commercial transaction as opposed to previous World Bank schemes of lending or grant resources. This provides leverage for new public and private investments into projects helping to reduce global GHG emissions, mitigating climate change through sustainable solutions towards poverty reduction.